Good morning! In today’s newsletter, we discuss the need for climate investment in light of extreme heat, the spotlight on shadow libraries due to A.I., and the financial aspects of women’s sports. Heat waves have hit several continents, raising concerns about heatstroke and its impacts on health care costs, power grids, and tourism. It’s becoming clear that extreme heat is the new normal, and adaptation strategies need to be developed quickly. The good news is that investors are increasingly investing in climate projects, with global public and private investment in climate finance more than doubling in recent years. However, only a small percentage of climate finance is focused on adaptation efforts, despite the urgent need. On another topic, large language models powered by A.I., such as ChatGPT, rely on vast libraries of text, including books from shadow libraries. These shadow libraries store millions of titles, often without permission, and have recently faced criticism from authors who are calling for compensation. Despite efforts to shut down these sites, they continue to exist, making it difficult to address the issue. Finally, women’s sports are experiencing a surge in investor interest as women’s leagues gain popularity and larger sponsorships. Investors see great potential in an industry that has been under-marketed and underinvested in, particularly as social media and streaming services provide a wider platform. Aly Wagner, a soccer star and co-founder of a new women’s soccer team, has successfully raised record funding for her team, reflecting the growing interest in women’s sports.
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